PFG Investments LLC Makes New Investment in Universal Display Co. (NASDAQ:OLED)

PFG Investments LLC purchased a new position in shares of Universal Display Co. (NASDAQ:OLED - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,540 shares of the semiconductor company's stock, valued at approximately $2,281,000.

Several other hedge funds have also made changes to their positions in the business. Peapack Gladstone Financial Corp grew its holdings in Universal Display by 1.8% in the fourth quarter. Peapack Gladstone Financial Corp now owns 3,367 shares of the semiconductor company's stock valued at $643,000 after purchasing an additional 60 shares during the period. 1492 Capital Management LLC grew its stake in shares of Universal Display by 0.8% during the 4th quarter. 1492 Capital Management LLC now owns 9,543 shares of the semiconductor company's stock valued at $1,825,000 after buying an additional 79 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of Universal Display by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 20,516 shares of the semiconductor company's stock worth $3,221,000 after buying an additional 100 shares during the last quarter. CWM LLC raised its position in shares of Universal Display by 21.0% in the 4th quarter. CWM LLC now owns 606 shares of the semiconductor company's stock worth $116,000 after buying an additional 105 shares during the period. Finally, Bahl & Gaynor Inc. boosted its holdings in Universal Display by 0.6% in the third quarter. Bahl & Gaynor Inc. now owns 18,288 shares of the semiconductor company's stock valued at $2,871,000 after acquiring an additional 109 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company's stock.

Analysts Set New Price Targets

OLED has been the topic of several research analyst reports. Oppenheimer reaffirmed an "outperform" rating and issued a $200.00 price objective (down from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. Needham & Company LLC reiterated a "buy" rating and set a $198.00 price objective on shares of Universal Display in a research note on Tuesday, March 26th. Citigroup reissued a "neutral" rating and issued a $180.00 target price (up previously from $161.00) on shares of Universal Display in a research note on Friday, January 19th. Finally, TD Cowen lifted their target price on shares of Universal Display from $165.00 to $210.00 and gave the company an "outperform" rating in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $199.86.

Universal Display Price Performance

Shares of OLED stock traded up $1.73 on Friday, hitting $158.31. 331,753 shares of the stock traded hands, compared to its average volume of 204,501. The company's fifty day moving average is $165.49 and its 200 day moving average is $169.18. Universal Display Co. has a 1-year low of $125.98 and a 1-year high of $194.84. The company has a market capitalization of $7.50 billion, a PE ratio of 37.34, a PEG ratio of 1.72 and a beta of 1.45.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.11. Universal Display had a net margin of 35.22% and a return on equity of 14.85%. The company had revenue of $158.32 million for the quarter, compared to analysts' expectations of $161.08 million. During the same period in the prior year, the company earned $1.36 earnings per share. The firm's revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Universal Display Co. will post 4.72 EPS for the current year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Universal Display's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 1.01%. Universal Display's dividend payout ratio (DPR) is currently 37.74%.

About Universal Display

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.

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